07:44 AM EDT, 10/16/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Wednesday, except for a decline versus the euro, before the release of import and export price data for September and the New York Federal Reserve Bank's services index for October, both at 8:30 am ET.

Earlier Wednesday, the Mortgage Bankers Association reported that mortgage rates rose for a third straight week to a two-month high in the week ended Oct. 11, pushing down both refinancing activity and new home applications significantly.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD rose to 1.0894 from 1.0887 at the Tuesday US close but was below a level of 1.0908 at the same time Tuesday morning. There are no Eurozone data on Wednesday's schedule, but European Central Bank President Christine Lagarde is set to speak at 2:40 pm ET. The next ECB meeting is scheduled for Thursday, when a 25 basis point rate reduction is expected.

GBP/USD fell to 1.3018 from 1.3067 at the Tuesday US close and 1.3085 at the same time Tuesday morning. UK consumer price gains were smaller than expected in September while producer prices declined, according to data released earlier Wednesday. The next Bank of England meeting is scheduled for Nov. 7.

USD/JPY rose to 149.3654 from 149.2442 at the Tuesday US close and 149.1588 at the same time Tuesday morning. Japanese machinery orders declined more than expected in August, data released overnight showed. The next Bank of Japan meeting is scheduled for Oct. 30-31.

USD/CAD rose to 1.3790 from 1.3786 at the Tuesday US close but was below a level of 1.3810 at the same time Tuesday morning. Canadian housing starts data for September are due to be released at 8:15 am ET, followed by manufacturing sales for August at 8:30 am ET. The next Bank of Canada meeting is scheduled for Oct. 23.